Justin Shore

Tax expert Justin Shore joins the podcast to discuss the backdoor REPS strategy for real estate investors, allowing the transformation of rental losses into non-passive income. They explore maximizing tax benefits, utilizing passive income against losses, and navigating the complexities of the passive activity rules. The episode highlights innovative strategies for offsetting W2 income with real estate losses and introduces the backdoor REPS tactic in real estate investing.

Justin Shore, an EA and expert in real estate investment strategies, joins to dissect various investment routes. They explore direct ownership and the associated tax benefits, comparing long-term and short-term rentals. The conversation dives into syndicates, REITs, and the BRRRR method's tax implications, along with the advantages of 1031 exchanges. Justin emphasizes aligning investment strategies with personal goals and offers insights into navigating the complexities of real estate investments. It's a treasure trove of advice for both active and passive investors!

Justin Shore, Advisory Manager at Hall CPA, sheds light on the significance of rigorous bookkeeping for real estate investors. He reveals how sloppy records can attract IRS scrutiny, and explains critical distinctions between tax forms like Schedule E and C. Proper categorization of expenses can be a game changer in audit defense. Shore emphasizes that mere bank statements won’t suffice and advocates for meticulous documentation to bolster deductions. Discover practical strategies to safeguard yourself from costly penalties and enhance your financial credibility.